Government to offload 20 lakh tonnes of wheat in open market to reduce prices

To bring down the price of wheat and wheat flour, the Centre on Tuesday announced that it would offload an additional 20 lakh tonnes of wheat in the open market.

On January 25, the Centre had announced sale of 30 lakh tonnes of wheat in the open market from its buffer stock to check rise in prices of wheat and wheat flour (atta).

State-owned Food Corporation of India (FCI) will offload an additional quantity of 20 lakh tonnes of wheat in open market under the Open Market Sale Scheme (OMSS).

Stocks will be sold by e-auction to flour mills/private traders/bulk buyers/manufacturers of wheat products. The proposal to sell stocks in the open market was taken by a group of ministers, sources said.